LEADING REAL ESTATE BUYERS & SELLERS
LEADING REAL ESTATE BUYERS & SELLERS
Buying & Selling real estate in Belize is straightforward. Belize is one of the few countries in the world where foreigners enjoy the same right as nationals in land ownership and tenure — and land rights on the beach are not difficult to obtain.
Buying Property in Belize is easy. First you will need to decide which part of the country you would like to purchase your property. Best way to do this is to come done and spend a week or two in Belize, drive around, see the country, see what it has to offer, and then you will know where you want to purchase your property. You should also do your own research on the Internet. Spend some time browsing real estate sites and looking at land and prices for the area that interests you. Once you know where you would like to purchase your property then you should contact us and tell us what you are interested in purchasing.
Under Belize’s British Common Law System, purchasing property in Belize is similar to purchasing in USA and Canada. One of the first things you should do is to request to see a “listing authorization agreement” for the property you are interested in purchasing. The agent should have one which will confirm to you that the agent is authorized to negotiate on the sale of the property. It will also state the measurements, lot or parcel number, asking price, terms, location of the property and the length of the agreement. It provides valid information and security so that you are confident that you are negotiating with someone who is authorized.
When you have identified the property and are ready to purchase then you will need to sign a Purchase Agreement which an agent will present to you, this agreement is between the seller and the purchaser and states the buyer’s terms if there are any, deposits, escrow agent, agent’s instructions, closing date, what happens to the deposit if the buyer or seller defaults, possession date and other relevant information. This document needs to be signed in the presence of a Belizean Justice of the Peace and two originals should be signed with the purchaser and seller each keeping one of the agreements and your agent will keep a copy.
Once you have purchased the property then you will need to transfer the property into your name or company There are several land systems in Belize under which a person can acquire title. These include:
Where title to the property being sold is in the nature of a Minister’s Fiat Grant and Deed of Conveyance, the transfer is affected through the preparation of a Deed of Conveyance, which is registered at the Lands Registry in Belmopan City, Cayo District, Belize
Where title to the property being sold is a TCT or FCT, the transfer is affected through the preparation of the requisite forms under the General Registry Act including:
1. The application to transfer title to land
2. Memorandum of Transfer
3. Affidavit of Seller of land
4. Affidavit of Buyer of land
These forms are registered at the Lands Registry in Belmopan City, Cayo District, Belize.
Where the title to the property being sold is a Land Certificate, the transfer is affected through the preparation of the requisite Transfer of Land form, pursuant to the Registered Land Act. This form is filed at the Lands Registry in Belmopan City, Cayo District, Belize.
Non-nationals of Belize can acquire land on the same terms as Belizean nationals, without the need for any license, save and except:
1. Central Bank Approval
2. In the case of national lands, an Alien’s Landholding license pursuant of the National Lands Act.
Closing Fees for purchasing Belize real estate is 5% of selling price, which is known as Government Stamp Duty. The first US$ 10,000 is Exempt. Registration and Filling fees are usually around $50.00 US. Attorney fees, if you decide to use one, are usually 2% of the purchase price.
Your exceptional property is more than a listing to us
People have different reasons for selling, from disposing of an investment property to simply moving home. SANCAS Realty recognizes that selling your property can be both a personal and emotional experience for the entire family. Our agents help you define your expectations and develop a plan to accomplish your real estate goals.
You and your SANCAS Realty agent will decide how you want to sell, you will work out a plan for listing, showing and selling your property. To determine your selling price and property inclusions your property’s location, size, age and features will be assessed, as will the current market and AREA TRENDS. We can connect you with a local property professional for a price estimate.
You’ll sign an agreement with our agent. This legally binding contract will detail any commissions, the estimated sale price, duration of the agreement, advertising costs, process and much more. We will have available a purchase agreement for your property that will include all of the details prospective purchasers will need.
To sell your property we will advertise and show your property. This will generally include photographing your property, drawing up floor plans and writing and preparing ads both online and in print whichever is best suited for the exposure of your property.
Once we have all the information completed to properly market your property then it will go on the market for sale and prospective buyers will contact your agent and arrange times to view your property.
Your agent will mediate between you and buyers to reach a mutually acceptable price. The buyer will then pay a deposit. If applicable both seller and buyer’s lawyers and banks will work out the details of the sale to ensure both parties meet all legal and financial requirements. All going to plan, you’ll relinquish the keys and/or all legal rights to your property in exchange for the balance of payment from the buyer or their bank.